brought to you by the every dollar app start budgeting for free today michael is up first in

wilmington north carolina michael welcome to the show hey thanks y'all thanks for having me

you've been listening to y'all for a few years now i'm just looking for some advice um my wife and i

bought a house together in 2022, and she recently decided that she wanted

to divorce and that she's going to be moving out next week. I'm sorry. I appreciate it,

me too. And so I know a bunch of my friends and family have said that, um, you know, the only way to be able to, um, take the loan over would be to refinance. Um, and I found out through our mortgage company that they do have, um, assumption of the loan, um, process. And I was just curious which,

which way might be best for me to go that way I could get the mortgage and everything solely in

my name. Yeah, well, that's great that your lender has those options. A lot of them, the only way

to do it is refinance. But again, it's always worth asking your lender to see if they can do a loan modification

or the loan assumption. And it sounds like, have you looked into the terms of that? It sounds like

it'll be the cheaper route for you to do a loan assumption if you can afford it and take on that

risk on your own. Sure. They literally just sent over the email today. I'm at works. I kind of went through it a little

bit and just even the numbers from that, you know, like you said, it can be kind of pricey.

And so I wasn't quite sure what the refinance is. We haven't touched any of the equity in it or anything, so that's part of the reason

why I was hoping that, you know, before I found out about their assumption details might

have been able to refinance and maybe use that equity for the stuff to refinance it.

But when...

What is she owed in this deal?

What?

Have you guys gone through the process?

Well, that's what I wanted to ask.

Are they lawyers?

...